Facing new competition from some of the world’s largest media companies, Netflix Inc is showcasing its biggest advantage: a head start abroad.
Netflix has more than 90 million customers outside the US and Canada, including 47.4 million in the Europe, Middle East and Africa (EMEA) region, and 29.4 million in Latin America, according to a regulatory filing on Monday.
The company issued the information to prepare investors and analysts for its next earnings report, when it would break out financial data across four regions for the first time.
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The overseas presence puts Netflix well ahead of streaming rivals, such as Walt Disney Co’s Disney+, which debuted last month, and AT&T Inc’s HBO Max, slated to be released in May next year.
It also helps make up for Netflix’s slowdown in its home country.
Netflix has more than 60 million customers in the US, accounting for more than half of broadband homes. However, it is on pace for its fewest customer additions since the company split its streaming service from its DVD business in 2011.
Netflix calls itself a global service and has banked its future on building a TV network that is as appealing in Brazil, France and Japan as at home.
Netflix cofounder and CEO Reed Hastings has frequently cited Facebook Inc and YouTube as two tech giants he looks to emulate.
They each have more than 2 billion users, though those services are generally free.
Netflix, based in Los Gatos, California, is to release more than 130 seasons of programs from other countries next year, outpacing most US media companies’ domestic output.
“A lot of these titles that are hugely impactful in the country where they’re produced also tend to travel throughout the region, sometimes around the world,” Netflix chief content officer Ted Sarandos told investors in October.
BROAD CLIENTELE
Netflix added about 28 million customers in Europe over the past three years, and it is on pace for its most gross additions yet — all while raising prices.
The average customer in the EMEA region pays US$10.26, the highest rate outside of the US and Canada.
Netflix has touted its growth in Latin America over the years, and the Monday filing reveals the company has more than 29 million customers in the region. That is about one-third of broadband homes.
The Asia-Pacific region is the biggest question mark, especially as Netflix goes after consumers who are sensitive to price.
Netflix is experimenting with lower-cost plans in India and Indonesia, countries that are home to more than 1.5 billion people.
Netflix investors are to get a better sense of its progress on Jan. 21, when the company is slated to release fourth-quarter earnings.
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